iRobot (NASDAQ:IRBT) Stock Rating Upgraded by StockNews.com

iRobot (NASDAQ:IRBT) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Separately, Needham & Company LLC reissued a “hold” rating on shares of iRobot in a research note on Thursday, November 7th.

iRobot Stock Up 6.6 %

Shares of NASDAQ IRBT traded up $0.55 during midday trading on Friday, hitting $8.85. The stock had a trading volume of 3,325,690 shares, compared to its average volume of 2,968,657. The business’s 50 day moving average is $8.17 and its 200-day moving average is $8.43. iRobot has a 52 week low of $5.83 and a 52 week high of $28.09. The company has a quick ratio of 0.94, a current ratio of 1.45 and a debt-to-equity ratio of 1.24. The company has a market cap of $270.46 million, a P/E ratio of -1.92 and a beta of 0.80.

iRobot (NASDAQ:IRBT) last released its quarterly earnings results on Wednesday, November 6th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.09. iRobot had a negative return on equity of 100.79% and a negative net margin of 16.15%. The business had revenue of $193.40 million during the quarter, compared to analyst estimates of $218.41 million. During the same quarter in the previous year, the company posted ($3.09) earnings per share. iRobot’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, analysts predict that iRobot will post -5.74 EPS for the current year.

Institutional Trading of iRobot

Several institutional investors and hedge funds have recently modified their holdings of IRBT. Sunbelt Securities Inc. boosted its stake in shares of iRobot by 72.6% during the second quarter. Sunbelt Securities Inc. now owns 7,550 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 3,175 shares in the last quarter. Quest Partners LLC grew its stake in shares of iRobot by 39.8% during the third quarter. Quest Partners LLC now owns 11,546 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 3,285 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of iRobot by 28.4% during the fourth quarter. Harbor Capital Advisors Inc. now owns 15,595 shares of the industrial products company’s stock valued at $121,000 after acquiring an additional 3,448 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of iRobot by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 163,670 shares of the industrial products company’s stock valued at $1,491,000 after purchasing an additional 3,956 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in iRobot in the 3rd quarter worth approximately $39,000. Institutional investors own 77.42% of the company’s stock.

iRobot Company Profile

iRobot Corporation designs, builds, and sells robots and home innovation products in the United States, Europe, the Middle East, Africa, Japan, and internationally. The company offers floor care products, including Roomba floor vacuuming robots; Roomba accessories and consumables, such as the Clean Base Automatic Dirt Disposal, replacement dirt disposal bags for the Clean Base, filters, brushes, and batteries; Braava family of automatic floor mopping robots; and Braava accessories and consumables, which include cleaning solution, washable and disposable mopping pads, replacement tanks, and batteries, as well as subscription services.